I could have conveniently put the title as “What is innovation?” and given an abstract definition, which would be non-concrete and non-germane to daily routine of corporate ritual and culture. Hence, I wanted to stress more on the necessity for innovation in companies of all sizes. I believe giving a justification would sink in deeper into the minds of blog reader.
That said, my twelve years of experience in corporate world has taught me that, one cannot rest on past glories and honors. If one does, you are bound to perish and be penalized. Companies and employees need to constantly rekindle the passionate search for meaning that’s beyond the present and past. They need to pursue with undying spirit and unquenchable thirst that can cut through all the haziness of present success and evaporate the mist of initial victories through a blazing torch. I also believe that, a corporate leader needs to create an ambiance of impending disaster (e.g.: business competitor who is scheming to overtake, which is very much a real threat in this competitive era) in the minds and actions of its employees. This discomfort has to be lodged not in the daily mundane activities but rather, should be nudged in the deepest corrugation of mind. I don’t want to make this gloomy anymore, but if companies year after year could succeed, it’s only because of this deep seated unjustified disquiet that gives impetus to perform like start-ups.
According to me Innovation is when companies can redefine, reinvent, evolve, and search for solutions for everyday problems that add a business value and as a consequence that affects the bottom line. We reach this not by basking ourselves , rather persistently working our way every day, year after year, aligning our actions against the company’s strategy (both near term and long term) through incessant search for truth.
